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FG Gold Limited, a privately held Sierra Leone gold developer founded in 2021 (shareholders include Boxmoor Hills DMCC, Eagle Eye Asset Holdings Pte Ltd, and Angola's sovereign wealth fund Fundo Soberano de Angola as first institutional investor since October 2024), closed a USD 330 million senior debt facility on 1 December 2025 to construct the Baomahun Gold Project — a JORC-classified 5.81 Moz resource / 2.05 Moz reserve deposit roughly 200km east of Freetown. Afreximbank and AFC jointly arranged the senior tranche; Afreximbank's own piece is USD 75 million (the figure GTA logs as the state-linked intervention). AFC additionally carries a previously committed USD 100 million streaming-and-mezzanine position, bringing total DFI backing to USD 430 million. Trafigura Group — through its Global Head of Metals and Minerals, Gonzalo De Olazaval — also mobilised additional capital and is named as a project partner, giving the trading house a financing (and likely offtake-adjacent) stake in Sierra Leone's first large-scale commercial gold mine.
Once commissioned, Baomahun is expected to average ~150,000 oz/year of gold production over a 12.5-year mine life (peaking at 201,000 oz/year), support up to 900 direct and indirect jobs (already 90% locally staffed), and contribute an estimated ~10% of Sierra Leone's GDP during the operating phase. Sierra Leone's Minister of Mines and Mineral Resources, Julius D. Mattai, publicly welcomed the financial close as a confidence signal for the national mining sector.
Severity is set low (2/5), matching the register's established treatment of Afreximbank project-finance transactions (see the 2025-12-20 Heirs Energies RBL facility): this is a bespoke, single-project debt financing rather than a government subsidy programme, tariff, or trade-restrictive measure. It is filed because it is a quantified (USD 75m of a USD 430m DFI package), state- linked development-finance transaction that materially advances a first-of-its-kind national mining asset, consistent with how the register tracks pan-African/DFI capital shaping extractive-sector development across the continent.
material diversification of the country's mining-sector output beyond existing iron ore, rutile and diamond production.
tracked in the register for Nigerian upstream energy assets, now extended to West African gold — reinforcing these institutions' role as the marginal source of large-project capital where Western commercial banks are thin on the ground.
supply source, a pattern consistent with trading houses increasingly co-financing African extractive projects alongside DFIs.
the USD 330 million senior facility were not disclosed.
carries an attached offtake agreement, were not disclosed.
located; government endorsement is so far only via the minister's quote in the company/DFI release.